RANDGOLD RESOURCES LIMITED
Incorporated in Jersey, Channel Islands
Reg. No. 62686
LSE Trading Symbol: RRS
NASDAQ Trading Symbol: GOLD
WINNING TEAM DRIVES RANDGOLD FLAGSHIP'S PERFORMANCE TO NEW HEIGHTS
Loulo, Mali, 29 January 2014 - A strong management team, consisting
almost entirely of Malian nationals, is driving continuing performance
improvements at Randgold Resources' Loulo-Gounkoto gold mining complex,
chief executive Mark Bristow said today.
Speaking at a briefing for international investors and local media,
ahead of Randgold's year-end board meeting which will be held at the
complex, Bristow said the team was delivering on all its operational
objectives, on the back of higher grades and a range of efficiency
enhancement projects which were improving throughput and recoveries.
He said the complex was likely to beat its revised production target
for 2013 and confirmed that the guidance for 2014 would remain at 640
000 ounces. "We expect gold production to keep rising while costs
should start coming down. This trend should be accelerated by other
new projects, including the paste backfill plant which, when completed,
will unlock substantial mineable reserves underground and cut capital
costs by reducing the required development rate," he said.
The complex comprises three world-class orebodies and ranks as one of
the largest of its kind in Africa. Its three mines - two underground
and one open pit and a plant which processes 4.4 million tonnes of ore
per year, are managed by a combined Loulo-Gounkoto team. Samba Toure,
the general manager for Randgold's West African operations, said the
proven effectiveness of this team was a tribute to Randgold's policy of
employing and developing host country nationals at all levels of the
business.
Paul Harbidge, Randgold's group exploration executive, said while
Loulo-Gounkoto was still expanding its gold production, the company's
exploration teams were continuing to hunt for additional ounces around
the existing orebodies as well as further world-class deposits. "We
believe this region has a high potential for the discovery of more
multi-million ounce gold deposits. A study into the feasibility of
accessing the orebody underneath the Gounkoto pit is also well
advanced," he said.
Bristow noted that in spite of the size of the complex and its high
activity level, it had a good safety record, with a demonstrable
improvement in the rate of lost time injuries. Both Loulo and Gounkoto
have achieved their international safety and environmental
certifications."Since it started as an open pit operation at the end of
2005, what is
now the Loulo-Gounkoto complex has contributed US$0.5 billion directly
to the Malian state in the form of dividends, taxes and royalties, andit
has elevated Mali to the third-largest gold producer in Africa. In
line with Randgold's stakeholder philosophy, it has also benefited the
local community enormously through the creation of jobs, the generation
of economic opportunities, infrastructural improvements and
quality-of-life initiatives in such fields as health and education," he
said.
RANDGOLD ENQUIRIES
Chief Executive Group Regional Manager West Investor & Media
Mark Bristow Africa Relations
+44 788 071 1386 Mahamadou Samake Kathy du Plessis
+223 66 75 01 22 +223 66 75 61 36 +44 20 7557 7738
+223 20 20 16 94 Email:randgold@dpapr.com
Website: www.randgoldresources.com
CAUTIONARY NOTE REGARDING FORWARD-LOOKING STATEMENTS: Except for the
historical information contained herein, the matters discussed in this
news release are forward-looking statements within the meaning of
Section 27A of the US Securities Act of 1933 and Section 21E of the US
Securities Exchange Act of 1934, and applicable Canadian securities
legislation. Forward-looking statements include, but are not limited
to, statements with respect to the future price of gold, the estimation
of mineral reserves and resources, the realisation of mineral reserve
estimates, the timing and amount of estimated future production, costs
of production, reserve determination and reserve conversion rates.
Generally, these forward-looking statements can be identified by the
use of forward-looking terminology such as 'will', 'plans', 'expects'
or 'does not expect', 'is expected', 'budget', 'scheduled','estimates',
'forecasts', 'intends', 'anticipates' or 'does not
anticipate', or 'believes', or variations of such words and phrases or
state that certain actions, events or results 'may', 'could',
'would','might' or 'will be taken', 'occur' or 'be achieved'. Assumptions
upon
which such forward-looking statements are based are in turn based on
factors and events that are not within the control of Randgold
Resources Limited ('Randgold') and there is no assurance they will
prove to be correct. Forward-looking statements are subject to known
and unknown risks, uncertainties and other factors that may cause the
actual results, level of activity, performance or achievements of
Randgold to be materially different from those expressed or implied by
such forward-looking statements, including but not limited to: risks
related to mining operations, including political risks and instability
and risks related to international operations, actual results of
current exploration activities, conclusions of economic evaluations,
changes in project parameters as plans continue to be refined, as well
as those factors discussed in Randgold's filings with the US Securities
and Exchange Commission (the 'SEC'). Although Randgold has attempted
to identify important factors that could cause actual results to differ
materially from those contained in forward-looking statements, there
may be other factors that cause results not to be as anticipated,
estimated or intended. There can be no assurance that such statements
will prove to be accurate, as actual results and future events could
differ materially from those anticipated in such statements.
Accordingly, readers should not place undue reliance on forward-looking
statements. Randgold does not undertake to update any forward-looking
statements herein, except in accordance with applicable securities
laws. CAUTIONARY NOTE TO US INVESTORS: The SEC permits companies, in
their filings with the SEC, to disclose only proven and probable ore
reserves. We use certain terms in this release, such as 'resources',
that the SEC does not recognise and strictly prohibits us from
including in our filings with the SEC. Investors are cautioned not to
assume that all or any parts of our resources will ever be converted
into reserves which qualify as 'proven and probable reserves' for the
purposes of the SEC's Industry Guide number 7.
This information is provided by RNS
The company news service from the London Stock Exchange
END